- According to the most brokers’ data, more than half of the traders are currently in long positions on XAUUSD. As a result, we recommend considering only Short trades at this time.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Price broke through the MVP line and rushed down. We consider this a sign for further XAUUSD price decrease.
- The first target is at the level of the previous bottom - 4325, and the second one, in case of an active price decrease, is at the level - 4310
Chart & Analyst Comments
